3G vehicle cameras cut fleet premiums by more than half

First Insurance Solutions says that has reduced its insurance premiums for its fleet clients by as much as 55% in some cases following its adoption of 3G vehicle cameras.

The specialist commercial insurance broker has said that it is using 3G vehicle cameras from Intelligent Telematics’ IT1000 devices to help lower claim frequency, better defend fraudulent claims and improve driving styles.

One of its fleets has achieved a premium saving of almost £4,000 per vehicle within the first year of having the cameras installed.

Another London-based business, operating a fleet of thirty vehicles composed of mostly vans and other commercial vehicles, has experienced just six claims since installing the IT1000 3G vehicle cameras in January 2016. It had dealt with over 40 claims in a three-year period prior to that date.

Three of the subsequent six claims are being challenged using video evidence and supporting data.

The implementation of the IT1000s has allowed the business to defend claims which otherwise may not have been contested and usevideo footage as evidence against fraudulent injury claims.

Intelligent Telematics’ IT1000 and IT2000 3G devices use sophisticated 3G camera technology that transmits HD footage of any collision within moments of it happening. The company says that this gives vehicle operators increased protection against fraudulent insurance claims, false driving allegations and disputed liability.

“High claims frequency is a significant challenge for many fleets, especially those that operate in urban areas. We are finding an increasing number of businesses are looking for guidance on how best to mitigate risk, keep insurance costs down and save money,” said Liam Chatfield, an account executive at First Insurance Solutions.

“We have worked closely with Intelligent Telematics developing a highly effective 3G vehicle camera solution that can deliver proven results and provide a useful way of tackling rising premiums.”

Sam Footer, who is head of international business & strategic development at Intelligent Telematics said that the latest results demonstrated the potential savings of 3G vehicle cameras, regardless of fleet or size.

“This is why we are seeing growing interest from the insurance marketplace as the potential benefits of the technology are recognised,” said Footer.